All Forum Posts by: Paul Camuto

Never too late to make an offer. Agents can purchase property as well.

Great feedback by Ryan on multiple showings. Get comps for last rental and lower price by 25 off last listing that rented. Are you limiting yourself by not renting to people with pets? Is your rental fully marketed with 25 photos and key words? Have you tried an agent?

Did you try listing thru an agent? Or getting on the most? Agents will have tenants not available elsewhere. Instead of also trying to look for more places to advertise have you improved and differentiated your listing? 25 photos? Key works like mint, updated to call attention?

It is amazing how many people over complicate this especially in the beginning. Traditional financing should be used until you can graduate to portfolio lenders. Exhaust that before moving to hard money lenders. 

Just rent it at market unless you can' find anyone else. 

I echo everyone else' cocomments. You can't get 25 before you get 1. Simplify your criteria and get in the game.

Be careful of multi family Ryan. I am not sure of the market in your area but in mine they provide a lower cap rate and are typically run down. You can create your own virtual multi family by acquiring individual units like you have been doing. The lending on multi family will typically be commercial and will require a personal guarantee.

No carpet, simple appliances (refrigerator without automatic ice/water), water alarm next to hot water, washer and dryer

Do most investor buying out of state, investing for the first time or are they experienced already exhausted their local market? Are you finding better deals out of your market?

Hi, I wanted to run by the experts the current investments I have and what I have been seeing. I am in central/south jersey. I have accumulated 12 individual condos over 7 years in 5 different buildings in about 5 different towns. I get as high as a 9% cap rate and average a 7%. My strategy has been updated units in good areas equals great tenants (with screening) and it has worked.

I have been looking at multi-unit investments but they all at least the ones that are updated in my radius are getting about the same cap rate or lower. I also have to pay significantly more per unit to achieve that.

I am questioning why should I first pay and risk a larger amount for the same or lower cap rate?

Is my strategy of condo by condo, brick by brick on the right path, 15 condos, 20 condos?

I havent struggled with managing them individually, I cant think why I shouldnt stay on this path.

Open to the thoughts of the community.